« previous next »

Author Question: Sellers in a perfectly competitive market: A) are price takers. B) sell differentiated goods and ... (Read 71 times)

lbcchick

  • Hero Member
  • *****
  • Posts: 550
on: Jun 29, 2018
Sellers in a perfectly competitive market:
 
  A) are price takers.
  B) sell differentiated goods and services.
  C) are not allowed to exit the market.
  D) are small in number.

Question 2

The world price of steel is 100 a ton. Before international trade, the price of steel in India is 60 a ton. If India begins trading internationally, the price of steel in India ________ and steel mills in India ________ the quantity they produce.
 
  A) rises; increase
  B) falls; increase
  C) does not change; increase
  D) rises; decrease
  E) falls; decease


deja

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ... Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ...
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s. A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
Shippers Declaration for Dangerous Goods Shippers Declaration for Dangerous Goods
Ecosystem goods and services and monetary values Ecosystem goods and services and monetary values
Stock Market Tracks Growth in GDP Stock Market Tracks Growth in GDP
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Forming urine ( influencing factors), Forming dilute urine & Forming concentrated urine

For a complete list of videos, visit our video library